Axie Infinity Market Overview: Volatility and Bearish Momentum in 24 Hours

• Axie Infinity (AXSUSDT) experienced a 15-minute pullback from $2.726 to $2.612, testing support near $2.600.
• Price closed 24 hours at $2.617, down 4.8% from open, with bearish momentum confirmed by RSI and MACD.
• Volatility expanded midday, with a high of $2.726 and low of $2.557, suggesting a key consolidation period.
• Bollinger Bands tightened after the drop, hinting at potential for a breakout or continuation.
• On-balance volume spiked during the sell-off, confirming bearish sentiment and lack of buying pressure.

Market Overview

Axie Infinity (AXSUSDT) opened at $2.674 on 2025-07-18 12:00 ET, reaching a high of $2.726 and a low of $2.557 before closing at $2.617 by 12:00 ET on 2025-07-19. The 24-hour volume totaled approximately 745,582.83 AXS with a notional turnover of $1,971,529.37.

Structure & Formations

AXSUSDT displayed a bearish engulfing pattern early in the 15-minute chart, followed by a sharp decline that tested key support levels around $2.600 and $2.557. A bullish reversal candle appeared near $2.557, but failed to close above critical resistance, indicating ongoing bearish control. The price may find near-term support at $2.557 and resistance at $2.642–$2.650.

Moving Averages

On the 15-minute chart, price broke below the 20- and 50-period moving averages, confirming a short-term downtrend. Daily chart indicators show the 50-day moving average at ~$2.65, with the 200-day at ~$2.70—both acting as overhead resistance. The price appears to be in a descending channel, with a potential for further correction toward 50-day support.

MACD & RSI

The MACD turned negative midday, with a bearish crossover and declining histogram, reinforcing the short-term bearish bias. RSI dropped below 30, entering oversold territory, though it has not shown a strong rebound, suggesting weak buying interest. A rebound could face resistance at the 50-level, but confirmation is needed for a reversal.

Bollinger Bands

Volatility expanded during the sell-off, pushing price to the lower Bollinger Band. After a brief consolidation, the bands have begun to contract, signaling a potential breakout or continuation phase. Price may test the upper band if buyers re-enter, but the current bias remains to the downside.

Volume & Turnover

Volume spiked during the sharp decline from $2.726 to $2.612, confirming bearish momentum. Notional turnover also increased, aligning with the price action. However, a divergence appears in the later hours as price consolidates near $2.600, with volume tapering—suggesting exhaustion or a possible pause in the move lower.

Fibonacci Retracements

On the 15-minute chart, the pullback from $2.726 to $2.612 aligns with the 61.8% Fibonacci retracement level at ~$2.630, with the 50% level at ~$2.668 acting as a potential pivot. Daily Fibonacci levels from the recent high of $2.726 to low of $2.557 show key retracement levels at $2.639 (38.2%) and $2.649 (50%), which may offer near-term support or resistance.

In the next 24 hours, AXSUSDT could test $2.557 again or consolidate between $2.600 and $2.650, depending on buying interest. A break below $2.557 could accelerate the downtrend, while a rebound above $2.650 might signal a reversal. Investors should remain cautious of increased volatility and potential for sharp moves in either direction.